Halloween Market: Apple Leads a Packed Earnings Week

Options Splits Open the Day

Markets enter Halloween with a clear divide in options sentiment. Semiconductor names took the heaviest bearish flow over the past seven days. MU, META, AMD, and NVDA all saw put flow dominate, with positive options bet percentages near zero. NFLX sat at an RSI of 30. Energy and financials told the opposite story. KMI, BK, and SPG drew near-pure call demand.

Apple Kicks Off a Big Earnings Week

AAPL reports after the close today, carrying a $5.1 trillion market cap into the print. CHKP reports this morning before the open. AMGN follows after Monday's close. Later in the week, the spotlight moves to autos. ORTEX Alt Data shows Japanese car registrations, which lead HMC revenue by 65 days with a strong fit, running 10% below last year's quarter. RACE faces a weaker read: Austrian car data is down 75% year-on-year for the same period.

Analysts Cut Intel, Lift Pharma

Truist cut its target on INTC by 33%, from $108 to $72. Wells Fargo raised its target on LLY to $1,500 and lifted GILD to $190, both with Buy ratings. RDDT also took a hit, with its price target trimmed from $275 to $210.

Index Radar: Russell and MSCI Pressure Builds

Today is the Russell 2000 December review rank date. Life Time Group Holdings and UMBF both moved to 90% deletion probability overnight, with $901M and $1.3B of implied selling respectively. On the MSCI World front, MRNA is the standout: an 88% forecast addition with $5.9B of implied buying. Xero sits at just 52% deletion probability, the closest call in the November review, with $522M of selling in play if it falls.